The pair started in the Asia-Pacific at $1.2623 this morning following last night’s $1/2583 to $1.2640 range during the US hours. The pair got off to a muted start today, initially confined between a session low of $1.2616 and $1.2630 for the early few hours. Around mid-morning, euro-dollar began to press higher as the US dollar retreated broadly against other major currencies. Its move toward $1.2633 however ran into some selling interest and the pair held below that for a while before staging another run higher.Euro-dollar broke higher in the late morning and pushed through buy-stops above $1.2670 for an eventual high of $1.2674. It was last at $1.2655. Ahead, further stops are noted above $1.2720 today and on the downside below $1.2550. All eyes will be on the ECB decision and press conference in Europe later today with volatility expected to receive a boost.
